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This Week in Retail

This Week in Retail

Shopping can be a lot more fun after a glass of wine. Macy’s customers might soon be the happiest of all department store shoppers, as the retail giant will soon offer their own private label wine at select stores and Macy’s restaurants. The wines are expected to have great margins for the company – no complaints here! (MediaPost)

Brands need to take a long hard look at a market segment that is somewhat overlooked: low-income millennials in Latin America. This group is comprised of 18-35 year olds who typically live on less than $10 a day, but are generally well educated and very web-savvy. Studies show that despite low wages, 50% of this group have money left over at the end of the month (that they don’t always put into savings accounts). (Forbes)

Has the “status factor” of having a designer handbag suddenly plummeted? Brands like Michael Kors and Coach have become ubiquitous, and therefore not as desireable and perceived as being too attainable. Another variable responsible for the drop in designer handbag sales could the simple fact that millennials just don’t typically have big enough budgets for designer duds. (Business Insider)

Are you still picking and packing your web store orders by hand? Perhaps you might want to consider having your shipping process handled by robots! This is what the founder of Webvan is planning. The company also founded of the Borders bookstore chain, and aims to deliver same-day delivery of groceries and other products. (re/code)

Being a retailer today means a big investment in technology. From combatting credit card fraud to becoming an an omnichannel business, merchants must deeply understand the importance of technology, and the role of a retail CIO has emerged and expanded. (CIO)

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